Jash Engineering LimitedCapital Goods & EngineeringJASH
Q1 FY27 concall · earnings callJash Engineering Limited
Jash Engineering posted improved revenue and returned to profitability, but growth was constrained by shipping and payment issues in key export markets.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue | ₹156 Cr | 17% | |
| PAT | ₹5 Cr | — | |
| Consolidated Order Book | ₹932 Cr | — |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹180.68 Cr+29.9% YoY+29.4% QoQ | ₹34.80 Cr+53.7% YoY+115.6% QoQ | ₹5.54-70.6% YoY+114.7% QoQ |
| Q2 FY25 | ₹139.58 Cr+46.7% YoY+21.9% QoQ | ₹16.14 Cr+89% YoY+20075% QoQ | ₹2.58-63.7% YoY+4200% QoQ |
| Q1 FY25 | ₹114.55 Cr+78.4% YoY-47.3% QoQ | ₹0.08 CrTurned profitable YoY-99.8% QoQ | ₹0.06Turned positive YoY-99.8% QoQ |
| Q4 FY24 | ₹217.17 Cr+28.6% YoY+56.1% QoQ | ₹38.95 Cr+17.2% YoY+72% QoQ | ₹32.30+16.9% YoY+71.6% QoQ |
| Q3 FY24 | ₹139.13 Cr+21.7% YoY+46.2% QoQ | ₹22.64 Cr+33.4% YoY+165.1% QoQ | ₹18.82+32.3% YoY+165.1% QoQ |
TL;DR
- Revenue grew 17% year-on-year to Rs.156 crore and PAT turned positive to Rs.5 crore.
- Commissioned foundry and valve/gate expansion, increasing capacity by 30%.
- Consolidated order book stands at Rs.932 crore, supporting the FY27 revenue target of Rs.875 crore.
- Material worth Rs.15 crore stuck due to Gulf conflict and payment issues in Singapore.
- Focus shifting to U.S. and Saudi Arabia markets, with expansion plans in both countries.
- New data center opportunity emerged for pressure vessels, with potential for large orders.
Said on the call
“If those things would have been there. These results would have been much better.”
From the Q&A
| Topic | What management said |
|---|---|
| Regional Revenue Split | Management clarified that out of Rs.156 crore turnover, Rs.70 crore was from India and Rs.80 crore from outside India. |
| Quarterly Margins | Improved margins are due to a combination of manufacturing benefits and a Rs.5.6 crore tariff refund. |
| Jash Process Equipment Concerns | The company lost Rs.150-200 crore worth of orders recently; it's in a transition period with different costing systems and less aggressive marketing. |
| Data Center Opportunity | A modified pressure vessel product for data centers has led to an order for four vessels and negotiations for 32 more; the market demand is described as 'crazy'. |
| Rodney Hunt Outlook | Expects $35-36 million revenue with a PAT margin of 8-9%; order book split is 40% old (pre-tariff) orders and 60% new orders. |
| U.S. Tariff and Geopolitical Risk | Current U.S. tariff is 15.6%; management is not aggressively pushing for order finalization due to uncertainty around potential 100% tariffs linked to Russian oil imports. |
| Stuck Shipments | Around Rs.15 crore of material is stuck due to the Gulf conflict (Qatar) and payment issues with a specific client in Singapore. |
| Capacity Expansion Timelines | Saudi plant is awaiting land allocation, targeting operations by March 2028; U.S. (Houston) plant land is acquired, targeting the same timeline. |
Guidance
- FY27 revenue target of Rs.875 crore.
- FY27 PAT target of Rs.100-105 crore.
- FY28 revenue target is around Rs.1,025 crore (mentioned in FAQ).
- Long-term target of Rs.1500 crore revenue by 2031.
Source
Summary written from the transcript filed by Jash Engineering Limited for the call held on 18 Aug 2026; published 18 Aug 2026, 20:25 IST.
More Q1 FY27 concalls ·How verification works ·Report an error